1.SHANGHAI—A United Nations agency said this year's wheat crop is at risk in at least five Chinese provinces, echoing continuous warnings from China that its major northern wheat growing areas are facing an epic drought. In a rare special early warning global alert, the U.N. Food and Agriculture Organization said north China's "ongoing drought is potentially a serious problem." This will have a dire effect worldwide and has the potential to ignite a fire in the impoverished countries.
2. J.P. Morgan will now accept gold as collateral for loans. In doing so, Morgan is saying that gold is as safe as AAA-rated US Treasury bonds. In other words, JPM is classifying gold as a high-quality currency. Morgan said it is responding to clients, many of whom are storing gold in Morgan's vaults.
3. Some of you know this. But not enough of you. Madoff did to his investors what the government has been doing to the US citizen for over 70 years with Social Security. There is no meaningful difference between the two schemes, except that one was operated by a private individual who is now in jail, and the other is operated by politicians who enjoy perks, privileges and status in spite of their actions. When benefits for older investors become due the politicians pay them with money taken from younger and newer wage earners to pay the older geezers....
4.China has shut down parts of the Internet, blocking off all references to Egypt What with the shortages of wheat, China's cash and the similarity of regimes, they must be patiently licking their lips while the military in Egypt move towards "democracy".
5.President Obama's budget, sent to Congress on Monday, carried a clear, if unspoken message: He's digging in -- not just for the immediate spending fight, but for the 2012 campaign. "But Obama's budget was mostly notable for what it didn't do: which was to follow the advice of his bipartisan fiscal commission. $1.6 trillion in tax hikes over 10 years are dead on arrival." - Investors Business Daily.
COMMENT: What is it with this guy? He feints to the middle and then flees back to the left. After his awful first term, I thought he'd had enough. But I was wrong; like all politicians Obama wants to remain in office. What is it about the ascent to power? These fools just can't put it down. Obviously, this unpopular and incompetent president wants a second term. And he's ready to sell his nation and its future down the river to get that elusive second shot at the "big power." Its time to get pragmatic Barak baby!
To be without the things you want is an indispensable part of happiness - Bertrand Russell
2. J.P. Morgan will now accept gold as collateral for loans. In doing so, Morgan is saying that gold is as safe as AAA-rated US Treasury bonds. In other words, JPM is classifying gold as a high-quality currency. Morgan said it is responding to clients, many of whom are storing gold in Morgan's vaults.
3. Some of you know this. But not enough of you. Madoff did to his investors what the government has been doing to the US citizen for over 70 years with Social Security. There is no meaningful difference between the two schemes, except that one was operated by a private individual who is now in jail, and the other is operated by politicians who enjoy perks, privileges and status in spite of their actions. When benefits for older investors become due the politicians pay them with money taken from younger and newer wage earners to pay the older geezers....
4.China has shut down parts of the Internet, blocking off all references to Egypt What with the shortages of wheat, China's cash and the similarity of regimes, they must be patiently licking their lips while the military in Egypt move towards "democracy".
5.President Obama's budget, sent to Congress on Monday, carried a clear, if unspoken message: He's digging in -- not just for the immediate spending fight, but for the 2012 campaign. "But Obama's budget was mostly notable for what it didn't do: which was to follow the advice of his bipartisan fiscal commission. $1.6 trillion in tax hikes over 10 years are dead on arrival." - Investors Business Daily.
COMMENT: What is it with this guy? He feints to the middle and then flees back to the left. After his awful first term, I thought he'd had enough. But I was wrong; like all politicians Obama wants to remain in office. What is it about the ascent to power? These fools just can't put it down. Obviously, this unpopular and incompetent president wants a second term. And he's ready to sell his nation and its future down the river to get that elusive second shot at the "big power." Its time to get pragmatic Barak baby!
To be without the things you want is an indispensable part of happiness - Bertrand Russell
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